This is a component from spyware software your machine DOES NOT NEED!!
If anything it is doing your PC harm by slowing down the performance of IE (Internet Explorer)
What you will need to do is remove certain registry keys to rid yourself of that irritating missing bs3.dll message.
Run regedit
Search for these registry items and remove them.
HKEY_CLASSES_ROOT\clsid\{a85c4a1b-bd36-44e5-a70f-8ec347d9b24f}
HKEY_LOCAL_MACHINE\clsid\{a85c4a1b-bd36-44e5-a70f-8ec347d9b24f}
I also ran a search for bs3.dll and removed this entry which rid me of the missing dll prompt.
Make sure you take measures to backup your registry if you are unsure of what you are doing.
I hope this helps.
Here is a website you can visit also which should contain more detailed information.